Recent comments in /f/massachusetts

SpyCats t1_jd2c5lf wrote

Reply to Hooray for Western Mass by richg0404

I used to write a lot of pieces like when I contracted with a travel website and this gives me strong “I’ve never been to any of these communities” vibes.

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SirMontego t1_jd22ymk wrote

Reply to Question about solar panel tax rebate by Ok_Translator_7026

Assuming you were living in the home when the installation occurred, the deciding factor is "when the original installation of the item is completed." It doesn't matter when you paid, when you signed the contract, when you got permission to operate from your utility, or when the solar was "placed in service."

All that matters in terms of determining the taxable year to claim the tax credit is "when the original installation of the item is completed." So if the installation of the solar was completed in 2023, you must claim it on your 2023 taxes, which you typically would file in April 2024.

Here's the details with citations to the law: https://www.reddit.com/r/solar/comments/yo7g32/can_i_get_the_tax_credit_this_year_if_still/ivdsugt/?context=3

Also, for some reason, whenever I tell people about the law, someone else inevitably comes along and is quite adamant that the test is when the system is "placed in service." Since I really don't want to get into a debate over this issue again, especially because another comment already said "in service," I provide the following quotes from the IRS:

Form 5695 instructions:

>costs are treated as being paid when the original installation of the item is completed,

IRS FS-2022-40, page 6:

>Q1. May a taxpayer claim the credits in the year of purchase if installation of the qualifying property occurs in a later year? (added December 22, 2022)
>
>A1. No. A taxpayer may not claim the credits until the year the property is installed.

IRS 2013-70, Q-24/A-24:

>Q-24: In 2010, Taxpayer A purchases and moves into a newly constructed home that contains qualifying § 25D property. Taxpayer A claims the § 25D credit in 2010. In 2013, Taxpayer A sells the home to Taxpayer B. Is Taxpayer B eligible for a credit on the same § 25D property?
>
>A-24: No. Section 25D(e)(8) generally treats an expenditure as made when the original installation of the qualifying property is completed. . . . .

IRS Private Letter Ruling 201809003:

>Under § 25D(e)(8)(A) of the Code, generally, for purposes of determining the tax year when the credit is allowed, an expenditure with respect to an item shall be treated as made when the original installation of the item is completed.

IRS Private Letter Ruling 201536017:

>Under § 25D(e)(8)(A), generally, for purposes of determining the tax year when the credit is allowed, an expenditure with respect to an item shall be treated as made when the original installation of the item is completed.

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SirMontego t1_jd224q3 wrote

Reply to comment by Mbostrider in Question about solar panel tax rebate by Ok_Translator_7026

>If system service started in 2023, eligible credit should be claimed in 2023

The link doesn't actually say that.

Regarding solar, the IRS link says:

>Qualified solar electric property costs. Qualified solar electric property costs are costs for property that uses solar energy to generate electricity for use in your home located in the United States.

The link also says:

>Costs. For purposes of both credits, costs are treated as being paid when the original installation of the item is completed, or, in the case of costs connected with the reconstruction of your home, when your original use of the reconstructed home begins

Accordingly. if the original installation of the item is completed in 2023, the eligible credit should be claimed in 2023.

The "placed in service" date is for determining the tax credit percentage. The words of the link say:

>The credit rate for property placed in service in 2022 through 2032 is 30%.

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Spicy_E OP t1_jd1q334 wrote

Reply to comment by spamnotnice in Buying tires off eBay and ship to tire store by Spicy_E

Sorry—Ive actually decided to purchase the tires locally in town and price matched so I didn’t go through the eBay/caradvise experience.

If you haven’t yet, try chatting with eBay customer car to get hopefully help out.

Good luck with everything.

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spamnotnice t1_jd1on16 wrote

Reply to comment by Spicy_E in Buying tires off eBay and ship to tire store by Spicy_E

I just did this. Bought 4 tires from Discount Tire Direct like you on ebay. Should get to Firestone tomorrow but I'm trying to figure out how to "schedule" the appt via the caradvise website. Like I can choose the installer, choose new tire install service, but as far as payment, how does the site/app know I bought it via ebay? Cause it asks for option for payment. This is where I'm lost. Ebay says to set the appt via caradviser and not the installer. How did you do it?

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JaKr8 t1_jd1l0fi wrote

Reply to Hooray for Western Mass by richg0404

Great Barrington probably has more great restaurants per capita than any place I've ever been in my life. It's 30 minutes from our home in the area but man is it worth the drive. And the entertainment on railroad Street on weekend nights is a nice way for the entire family to spend time together....

We only spend part of the year here, but we always look forward to it.

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